The consumer price index (inflation rate) in the Kingdom of Saudi Arabia increased by 3.3% in December 2022, compared to the same month in 2021.
According to Arabiya Net, data from the General Authority for Statistics showed an increase in the inflation rate in Saudi Arabia in December from the level of 2.9% recorded in November 2022.
The authority attributed the rise in the inflation rate during last December, on an annual basis, to the increase in the prices of housing, water, electricity, gas, and other fuels by 5.9%, and the prices of food and beverages by 4.2%.
The housing, water, electricity, gas, and other types of fuel section recorded an increase affected by the increase in rental prices paid for housing by 6.8%, which in turn was affected by the increase in apartment rent prices by 18.1%. amounting to 25.5%.
The Food and Beverages section was affected by the increase in food prices by 4.3%, which in turn was affected by the increase in the prices of meat and poultry by 5.9%.
The consumer price index for December 2022 recorded a marginal increase of 0.3% compared to November 2022. The monthly inflation index was affected by an increase in the housing, water, electricity, gas and other fuels section by 0.9%, which in turn was affected by an increase in the prices of paid rent for housing by 1.1%.
